Kuala Lumpur, 23 November 2020 – Sime Darby Plantation (SD Plantation) Group recorded improved year-on-year (YoY) results bolstered by higher crude palm oil (CPO) and palm kernel (PK) prices realised.
The Group’s downstream segment, Sime Darby Oils (SDO), tripled its profit before interest and tax (“PBIT”) to RM71 million in Q3 FY2020 versus RM24 million in the immediate preceding quarter, from improved performance particularly in Asia Pacific.
|Revenue (RM mil)||3,182|
|PBIT (RM mil)||332|
|Net Profit (RM mil)||190|
|CPO Price Realised (RM/ MT)||2,504|
|FFB Production (MT mil)||2.39|
Chairman, Tan Sri Dato’ Seri Haji Megat Najmuddin bin Datuk Seri Dr Haji Megat Khas said:
“Whilst we continue to monitor and address the impact of COVID-19 on our business, we are indeed encouraged to have recorded a higher year-on-year performance thus far. For the rest of the financial year, the Group will remain focused on delivering value to our stakeholders as we navigate through the current challenging environment. We will continue to prioritise the health and safety of our stakeholders, the job security of our employees, our commitment to sustainable practices, protection of human rights as well as our R&D and innovation initiatives.”
Group Managing Director, Mohamad Helmy Othman Basha, said:
“Despite the challenges posed by the pandemic on global markets, CPO prices continue to be supported in the second half of the year, whilst palm oil demand has improved and is expected to grow further in 2021. As a sector that provides essential products to the world, this industry is showing resilience amid global uncertainties. Given these challenging times, we urge more unemployed Malaysians to seize the job opportunities available in the palm oil industry today. As a measure to further mitigate the industry’s current labour shortage, we also hope the government will continue with its efforts to alleviate restrictions on foreign labour, whilst the Group continues to ramp up mechanisation and digitalisation efforts to increase productivity and reduce reliance on labour in the medium to long term.”
The Group’s financial performance for the financial year ending 31 December 2020 is expected to be better than last year.
A cookie is a small file which asks permission to be placed on your computer’s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.
We use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.
A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.
You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.